SRS Real Estate Partners announced today the closings of four Quick Quack Car Wash ground lease (land ownership) sales totaling just over $12.6 million. The assets are located in California and include the cities of La Quinta, Calexico, Imperial, and Redding. All the assets had 20-year absolute triple net ground leases in place.
Following is info on each deal:
79580 CA 111 N, La Quinta, Calif. – SRS Capital Markets Vice President Alexander Moore and Senior Vice President Pat Weibel represented the private seller in the transaction. Built in 2025, the new construction property sold for $4.485 million and is situated on 1.65 acres. The buyer was a private investor from Northern California.
1115 Imperial Avenue in Calexico, Calif. – SRS Capital Markets Senior Managing Principals Matthew Mousavi and Patrick Luther represented the private seller in the transaction. Built in 2023, the 3,600-sf property sold for $4.49 million and is situated on 1.65 acres. The buyer was a private investor from Southern California.
830 N. Imperial Avenue, Imperial, Calif. – SRS Capital Markets Senior Managing Principals Matthew Mousavi and Patrick Luther represented the private seller in the transaction. Built in 2024, the 3,596-sf property is situated on .92 acres and sold for $1.95 million. The buyer was a private investor from Southern California.
2525 Hartnell Avenue in Redding, Calif – SRS Capital Markets Vice President Alexander Moore represented the private seller in the transaction. Built in 2024, the 3,600-sf property sold for $1.7 million and is situated on 1.21 acres. The buyer was a private investor from Southern California.
“Car wash assets have become increasingly attractive to investors,” said Luther. “They are recession resilient and most offer buyers zero landlord responsibilities. Our SRS team has increased our market share with this property sector over the past few years as tenant demand has elevated, and developers have capitalized on the opportunities.”
Luther added that SRS is currently marketing seven additional Quick Quack assets in California for a total consideration of $15 million.
In 2024, SRS Capital Markets completed approximately $2.5 billion in deal volume comprised of more than 600 transactions in 45 states. SRS currently has in excess of 740 properties actively on the market with a market value surpassing $3.5 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.